There has been a lot of talk recently about unnecessary staff members in some state institutions. To make things clear, PAN decided to compare the number of tax inspectors operating in Armenia and Georgia and their responsibilities.

Torn by wars and terrorism, Iraq was not an attractive market for Armenian businesses just several years ago. Nevertheless, the successful activity of Armenian cigarette exporters made the country their Number 2 destination, following Russia.

Grigoryan doesn’t have permanent employees but hires up to ten people when extra help is needed once or twice a month.

June 16, 2014

Bardzrashen was named for its location: the village in the Ararat province of Armenia is situated high on a hill, with a long curving road leading to it. Like many other villagers, Karen Grigoryan is a farmer - he has greenhouses to grow vegetables and flowers. To improve the quality of the crop and reduce the weather risk, he recently built a new heating system in his glassed greenhouse where he usually grows pinks.

The couple breeds cattle, pigs, hens and ducks, and at the first sight taking care of the whole livestock farm seems quite impossible.

June 11, 2014

Alla Davtyan, her husband Mikael Hovhannisyan and their little daughter moved to Masis village located near the town of Artashat in Ararat province of Armenia several years ago. They settled in a small construction next to an abandoned farm, the owner of which let them live and work there, and purchased a cow, marking the beginning of a new life.

With the business advancing, Asoyan doesn’t rule out taking another loan for opening a new shop to sell shoes for men.

June 6, 2014

Edgar & Karen LLC, which was registered back in 2007, now operates Planet of Clothes chain of shops selling affordable clothing in Yerevan, the capital of Armenia, and in the nearby town of Abovyan. The head of the firm, Karen Asoyan, personally runs the business, importing goods from China, Turkey and Dubai.

“All you see around is the result of our family efforts. We work hard day and night and the outcome is pleasing,” Shmavonyan says.

May 30, 2014

Hamlet Shmavonyan, a resident of Aratavan village in Ararat province of Armenia, believes that all problems are solvable, once people do their job. With the latest $2500 loan from ACBA-Credit Agricole Bank, he bought a land adjacent to his house, where he already built a pigsty, as well as two greenhouses to grow pinks, tulips and chrysanthemums. He also purchased fuelwood he uses to heat the greenhouses in winter.

After the collapse of the Soviet Union, Rafik Vardanyan acquired the land of 1129,8 square meters to start his business.

May 28, 2014

Erzrum restaurant complex has been functioning for over 7 years in Jrvezh district on the outskirts of Armenia’s capital Yerevan. It’s a two-storey construction, with an adjacent green territory used as an open air café.

“With ACBA at my side, we mapped out the future one step at a time. That makes the risk manageable,“ Manukyan says.

May 22, 2014

The resident of Lenughi village of Armenia’s Armavir province, Sargis Manukyan, believes that a farmer shouldn’t put all eggs in one basket. However, he knows that diversification can be risky too. A little more than ten years ago, Manukyan’s small farm enabled him to make a modest living. At the same time, he knew that limiting his business to livestock was equal to reducing his chances for a better life.

Andrew Mkrtchyan, Chairman of the Board of Directors at Ameriabank elaborated in an interview on the future of Armenian banking system and possible developments for 2016, tackling questions on the crisis in the system, Ameriabank's recent collaboration with international financial institutions and much more. The interview was triggered by the two deals signed by Ameriabank with major IFIs: the European Bank for Reconstruction and Development (EBRD) invested $40 million in the capital of Ameriabank, while the International Finance Corporation (IFC) provided a $50 million subordinated loan.